Knowledge Check 01

The Hesburgh Hat Company had 1,000 units in beginning work in process at the start of the period. During the period, 4,600 units were started, and 4,200 units were completed and transferred to the next process. The units in ending work in process would be:

multiple choice 1

1,400 units

400 units

4,200 units

5,600 units

Knowledge Check 02

Milani Mousetraps uses the FIFO method when performing process costing. It had 1,200 units in beginning work in process at the start of the period. These units were fully complete with respect to materials but only had 40% of their conversion costs. During the period, 4,600 units were started, and at the end of period 800 units remained in ending work in process. The ending work in process units had all of their direct materials but only 25% of their conversion costs. Equivalent units for conversion costs would be:

multiple choice 2

5,920 units

800 units

5,000 units

5,200 units

Knowledge Check 03

Which of the following represents the correct steps for calculating equivalent units for direct materials under the FIFO method?

multiple choice 3

(Beginning Work in Process Units (1 Beginning Work in Process Completion % for Direct Materials)) + Units started and completed + (Ending Work in Process Units Ending Work in Process Completion % for direct materials)

(Beginning Work in Process Units (1 Beginning Work in Process Completion % for Direct Materials)) + Units started and completed

Units started and completed + (Ending Work in Process Units Beginning Work in Process Completion % for direct materials)

Units started + (Ending Work in Process Units Ending Work in Process Completion % for direct materials)